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Rate of exchange |
Also found in: Dictionary/thesaurus, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
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RATE OF EXCHANGE. Among merchants, by rate of exchange is understood the price at which a bill drawn in one country upon another, may be sold in the former. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Treasury issued its long-awaited report to Congress on international economic and exchange rate policies and concluded once again--despite overwhelming evidence to the contrary--that China was not "manipulating" its currency (the renminbi, or RMB for short). First introduced by The Economist in 1986 and updated frequently since then, the Big Mac index is an informal way of measuring whether one currency is at the theoretically correct exchange rate with another currency. If you traveled in mid-August, for example, the exchange rate was $1. |
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